FX intervention pressure mounts on Brazil central bank to sell dollar reserves
Brazil’s currency is weakening so quickly the central bank may soon be forced to set aside its free-market principles and…
Day: March 5, 2020
IMF: coronavirus means 2020 growth will be lower than 2019
The International Monetary Fund is to offer $50bn (£39bn) in emergency funding for countries hit by the coronavirus, as it…
Moving goods from Apapa port 10 times costlier than Ghanaian, South African ports
A research carried out by SBM Intelligence has shown that it is 10 times costlier to move goods from the…
Next Bank of England governor calls for funds for coronavirus-hit firms
The incoming governor of the Bank of England, Andrew Bailey, has called on the government to offer emergency financial support…
CBN widens activities of Mfbs to include issuance of CPs
The Central Bank of Nigeria (CBN) has widened the permissible activities of Micro Finance Banks (MfBs) to include the issuance…
Forex racketeering: Reps probe CBN, FIRS, others over $30bn leakages
The House of Representatives has resolved to investigate the Central Bank of Nigeria and the Federal Inland Revenue Service over…
South Africa Central Banker Sees No Need for Emergency Rates Meeting
South Africa’s central bank sees no need for an emergency meeting on interest rates and will wait for its regular…
Vitafoam reassures as shareholders okay N525.4m dividend
THE board and management of Vitafoam Nigeria Plc yesterday reassured shareholders and other stakeholders that the company would continue to…
Court grants claim for breach of contract against Shell
A Lagos High Court has set aside the arbitral tribunal award, which dismissed Global Gas and Refining Limited’s claim for…
Zenith Bank Emerges As The Most Valuable Banking Brand
ZENITH Bank Plc has again emerged as the Most Valuable Banking Brand in Nigeria in the recently released Banker Magazine…
Report Says Port Transport Is 10 Times Costlier In Nigeria Than Ghana, SA
Local transportation of goods from Apapa and Tincan Island ports in Lagos costs up to 10 times higher than the…
Ikeja Electric Gets New CEO
Ikeja Electric Plc, one of the nation’s power distribution companies, has announced the appointment of Mrs Folake Soetan as its…
Bashir Jamoh Replaces Peterside As NIMASA DG
The President, Major General Muhammadu Buhari (retd.), has approved the appointment of Bashir Jamoh as the Director-General of the Nigerian…
FEC okays $2.571b Ajaokuta-Kaduna-Kano gas project
THE issuance of a sovereign guarantee to the tune of 85 per cent of the Engineering Procurement and Construction (EPC)…
Coronavirus: Nigeria may review 2020 budget – minister
The fast-spreading coronavirus from China is threatening Nigeria’s main source of revenue – oil. To this end, the Federal Government…
Nigerians, operators kick as FIRS plans to impose VAT on sports betting
For a while, the sports betting industry in Nigeria has been rife with the news that the Federal Inland Revenue…